Primis Financial (NASDAQ:FRST) Director Robert Yates Clagett Buys 2,268 Shares

Primis Financial Corp. (NASDAQ:FRST) Director Robert Yates Clagett purchased 2,268 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $10.98 per share, with a total value of $24,902.64. Following the completion of the acquisition, the director owned 50,834 shares in the company, valued at $558,157.32. The trade was a 4.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Robert Yates Clagett also recently made the following trade(s):

• On Tuesday, November 11th, Robert Yates Clagett bought 1,830 shares of Primis Financial stock. The shares were purchased at an average cost of $10.84 per share, with a total value of $19,837.20.

Primis Financial Stock Performance

NASDAQ:FRST traded up $0.20 during mid-day trading on Thursday, reaching $10.99. 32,361 shares of the company’s stock were exchanged, compared to its average volume of 89,512. Primis Financial Corp. has a one year low of $7.59 and a one year high of $12.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 0.98. The business’s fifty day simple moving average is $10.60 and its two-hundred day simple moving average is $10.48. The firm has a market capitalization of $270.70 million, a PE ratio of 78.71 and a beta of 0.86.

Primis Financial (NASDAQ:FRST) last announced its earnings results on Thursday, October 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $41.00 million for the quarter, compared to analyst estimates of $27.96 million. Primis Financial had a negative return on equity of 0.76% and a net margin of 1.31%. Analysts anticipate that Primis Financial Corp. will post 1.4 earnings per share for the current fiscal year.

Primis Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, November 7th. Primis Financial’s payout ratio is 285.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Zacks Research raised shares of Primis Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Primis Financial in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1.00.

Hedge Funds Weigh In On Primis Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of Primis Financial by 290.2% during the third quarter. Russell Investments Group Ltd. now owns 2,345 shares of the company’s stock worth $25,000 after purchasing an additional 1,744 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Primis Financial during the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. grew its holdings in Primis Financial by 154.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,555 shares of the company’s stock worth $49,000 after acquiring an additional 2,767 shares during the last quarter. CWM LLC lifted its holdings in shares of Primis Financial by 135.7% during the third quarter. CWM LLC now owns 7,402 shares of the company’s stock worth $78,000 after purchasing an additional 4,262 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Primis Financial by 278.2% in the third quarter. BNP Paribas Financial Markets now owns 7,742 shares of the company’s stock worth $81,000 after purchasing an additional 5,695 shares during the last quarter. Institutional investors and hedge funds own 74.96% of the company’s stock.

About Primis Financial

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.